Study of Stock Bubbles Debunks Theory of Impending Crash

Rochester Business Journal
October 13, 2017
Mark Armbruster

Most of us have seen the re­cent headlines about the stock market hitting new highs. By some measures, stocks now trade at valuation levels only seen twice before: in 1929 and in 1999. If you recall, the aftermath of those periods was not terribly profitable for investors.